The National Bank for Financing Infrastructure and Development (NABFID) and BRICS-supported New Development Bank (NDB) have signed a memorandum (MOU), aimed at creating a strong infrastructure financing market and supporting ecosystems, which focuses on sustainable development projects. This partnership will facilitate clean energy and transport projects, knowledge sharing and support on capacity building.
NABFID and NDB will detect prolonged cooperation opportunities, including technical expertise exchange to address infrastructure financing intervals.
NDB Vice President and Chief Operating Officer Vladimir Kazbekov expressed enthusiasm about the partnership, 'We are happy to partner with Nabfid to run India's infrastructure and social sector development'.
It targets tie-up projects such as renewable energy initiatives, permanent water and sewage management, and other clean energy and transport enterprises. The MoU allows both organizations to participate in infrastructure projects through thematic cooperation within their respective mandate.
The partnership will also include research and capacity-making initiatives. These will include seminars and workshops to promote knowledge exchange and increase institutional abilities related to funding and sustainable development of infrastructure.
NABFID managing director, Rajuran Rai ji, emphasized the importance of partnership for nation-building and sustainable development and said, “This MoU will help accelerate infrastructure financing in clean energy and social impact projects, produces long-term values for all stakeholders.”
